Digital Digest: The Latest Tech News - Tencent

Editorial Staff

9 July 2020

Tencent
, which is the cloud computing arm of Singapore’s Tencent sovereign wealth fund, has signed an agreement with Asia Digital Bank Corporation in Singapore. The memorandum of understanding kicks off collaboration on financial services and a range of innovations towards a data-driven digital bank, the organisations said.

The parties to the agreement said that COVID-19 has exposed the need for updated banking services to run alongside traditional banking.

ADBC, supported by Yincubator Private Limited, a Singapore-based innovation advisory firm, is exploring its collaboration with Tencent Cloud to design and setup a technically advanced cloud platform.